Using the data given in the following table, if the seasonal index for quarter 3 is 1.12, what forecast (rounded to the nearest integer) should be made for quarter 3 of 2021? Quarter 2019 2020 Q1 120 113 Q2 135 132 Q3 144 140 Q4 115 118 A. 126 B. 141 C. 144 D. 118 E. 133
Q: A RAID 1 storage system has an estimated MBTF of 1,500,000 hours. What is the expected annual reliab...
A: Find the Given details below: Given Details: MTBF 1500000 Hours Total Hours 8760 (24*365) Hou...
Q: In what circumstances is it required to raise a process exception?
A: Process exception is a condition or a situation in the process strategy where the whole process or a...
Q: Describe the three [3] types of utility under global infrastructure
A: Global Infrastructure is a platform that enables various areas throughout the globe to collaborate b...
Q: Supervisor Kenneth Peterson wants to determine the percent of time a machine in his area is idle. He...
A: The detailed solution is given in Step 2.
Q: Entrepreneurs may use a minimum viable product for a lean startup process. Define this process.with ...
A: A minimum viable product (MVP) is a concept in the lean start up that would focus on the impact of l...
Q: A process that is within specifications 99.9997% of the time is called: A 2-Sigma process A 4-Sigma ...
A: Quality is the ability to manufacture the products and services as set standards and increase custom...
Q: What is a cost baseline in project management? How can it be applied to monitor and control a projec...
A: When a project is initiated there are some basic factors that are predefined like scope, budget, and...
Q: The efficiency rate of the training centre. ii. The utilisation rate of the centre.
A: Utilization rate refers to the rate at which someone utilizes the total available time of your resou...
Q: A schematic technique to discover possible causes of quality problems in an overall process is a: O ...
A: Quality is the ability to manufacture the products and services as set standards and increase custom...
Q: answer it in a short answer? please John was thrilled when, after completing his MPA degree, he was...
A: Organizational politics is described as the agenda and the self-interest of a person within an organ...
Q: Santizit, Inc. produces a constant supply of hand sanitizer bottles (adjusted for seasonality) to it...
A: Economic order quantity is a technique which identify the optimal ordering quantity based on the con...
Q: Does resentment activate economic anxiety rather than economic anxiety activate resentment, accordin...
A: The Klien book why we are polarized it has been stated that demographic threats drive the economic ...
Q: Week Passengers 440 11 446 12 451 13 455 14 464 15 996 474 17 476 18 482 a. Explain why an averaging...
A: After observing the data, we can see that there is an upward increasing trend. In case the average ...
Q: Eastman Publishing Company is considering publishing an electronic textbook about spreadsheet applic...
A: Fixed cost F= $150,000 Variable cost c= $4 per book Selling price p= $43 per book Demand = 4000 - 6p...
Q: An automatic machine is used to fill cans with coffee. The nominal weight of each can is 16.0 oz. Th...
A:
Q: A company makes two products (1 and 2). Each product requires time on two machines A and B. The spec...
A: Given data is Product 1 processing time on machine A = 2 hrs/unit Product 1 processing time on machi...
Q: There are five things that are important to managing bottlenecks, which is the most important and wh...
A: A bottleneck is described as a congestion point that happens in manufacturing, service, information,...
Q: w = 4y, +8y2 subject to: 6y +Y2 260 15y, +y2 2 105 Y20, y2 20 Use the simplex method to solve. Minim...
A: Given LP- MIN W = 4y1 +8y2Subject to constraint-6y1+ y2≥6015y1+ y2≥105y1≥0 , y2≥0
Q: 2 For Maximization Problem: Section Sales D Employees A В C E 1 12 20 10 8 7 10 13 11 9 14 10 7 7 10...
A:
Q: Which elements of lean systems would be most troublesome for manufacturers to implement?
A: The lean system is the system in which different lean principles are used to plan and manage busines...
Q: Soledad Bautista, the engineering manager, delegates tasks as a good manager should. However, Mark H...
A: given Soledad Bautista, the engineering manager, delegates tasks as a good manager should. However, ...
Q: processing times for tasks, A, B. C, D, E, F, and G are 2.4, 2.2, 8.9, 1.0, 1.2. are 1.5 pective tas...
A: Cycle time = Production time/Demand = (8 * 60)/180 = 2.67 minutes Minimum number of workstations: ...
Q: You should benchmark a company that: O Is in a different business O Makes benches O Follows a differ...
A: Benchmarking refers to process of setting a standard by which one can compare the quality/efficiency...
Q: Max Stamp approves study abroad documents for the university. Students must wait in line with their ...
A: A queuing system refers to the system that has service facility where the customers arrive for servi...
Q: A manufacturing company needs a Pareto diagram for the analysis of the following design department c...
A: Given, Element Dollars(in thousands) Progress Review 10 Support Activities 13 Qualification...
Q: "The most improved sales figure at Commercial Dry Cleaning in 2018 in Victoria was achieved by Richa...
A: Business analytics often called BA can be stated as the set of regulations and technologies for solv...
Q: QUESTION 2 2.1 Discuss the stages in the development of the procurement function, their characterist...
A: 2.1) Procurement process or function are a series of steps or processes that is essential to obtain ...
Q: The hotel has adopted an ethnocentric human resource management strategy, do you believe that this a...
A: The successful running of a hotel depends on the customer satisfaction.
Q: Demonstrate how concentration at work gives the dynamic leader power and passion to succeed.
A: Strong leadership is when individual can inspire, motivate, inspire & challenge the team to prod...
Q: Explain briefly the techniques job design and work life balance and how they could be used to improv...
A: To be determined: The techniques, job design, and work-life balance and how they could be used to im...
Q: The operations manager using a combination of methods has forecast sales of Lomi Cup Orders at the l...
A: Given data is
Q: As you have asked for the whole case stidy: Founded at the turn of the 20th Century as a maker of ...
A: Find the Given details below: Given details: Sample Number Sales unit Description Sales unit Co...
Q: The Wonderful Widget Company's earning have declined to the point where they need to reduce the numb...
A: When an employer eliminates a significant number of workers in order to cut company expenditures, th...
Q: A company manufactures 5,000 units of a product per month. The cost of placing an order is Rs. 100. ...
A: Note: - Since we can answer only up to three subparts we will answer the first three subparts(a, b, ...
Q: List & define the steps in the new product development process and the major considerations in manag...
A: A Small Introduction about Product Development Item improvement alludes to the total course of ta...
Q: Discuss the importance of Productivity and work study in health care organisations
A: Productivity is the ability to manufacture finished products and services effectively and efficientl...
Q: How long does a customer have to wait to have a job completed? hours
A: Given information: Number of servers (m) = 1Activity time (p) = 3 hoursStandard Deviation of activit...
Q: QUESTION 4 Medex is a new medical supply company that only services the top 3 metro areas in the US ...
A: Given, (x1,y1) = (40,74), w1 = 21 customers (x2,y2) = (34,118), w2 = 16 customers (x3,y3) = (42, 68)...
Q: A company sells its products to wholesalers in batches of 1,000 units only. The daily demand for its...
A: Given data is
Q: Virginia College promotes a wide variety of executive training courses for firms in the Arlington, ...
A: Given data: Allowance factor - 10%
Q: Network Diagrams Exercise 1. For each task build the relevant network diagram 2. Add the task durati...
A: A network diagram is a visual representation of a project which helps to identify the activity relat...
Q: identify your own example of improper sampling from your day-to-day life. Be sure to provide the sam...
A: First, I would identify the example of improper sampling that could happen in our day-to-day life, I...
Q: What is the most efficient method of gathering information for a comprehensive operations manual?
A: An operations manual is described as a detailed document that includes the functions of a company. W...
Q: What is Visual literacy and information literacy
A: The term visual literacy can be understood as the capability of interpreting, negotiating and making...
Q: Nkrumah Farms encompasses 900 acres, and is planning to grow groundnut, soybeans, corn, and wheat in...
A: Part (A): Decision Variable:Suppose-G be the no. of acres of land allocated to grow groundnutS be ...
Q: Callers are helped in a process with two resources. The first resource has a capacity of 1.7 callers...
A: Given, First resource capacity = 1.7 callers per minute Number of workers for first resource = 1 wor...
Q: Discuss the definition of quality, in your discussion include the contributions of Joseph M, Juran, ...
A: Quality is considered an important aspect of any manufacturing organization or service organization,...
Q: In a company two mechanics maintain two very important machines in a production process, which usual...
A: Two mechanics maintain two important machines, so there are two servers. The machines breakdown ever...
Q: Suppose you are made a warehouse manager of an exporting firm. Which factors will you consider befor...
A: Being a warehouse manager of an exporting firm, we must consider multiple factors before setting up ...
Q: In a fabric manufacturing factory, the quality control process using control charts from SPC. In an ...
A: Given-
Using the data given in the following table, if the seasonal index for quarter 3 is 1.12, what
Quarter 2019 2020
Q1 120 113
Q2 135 132
Q3 144 140
Q4 115 118
A. 126
B. 141
C. 144
D. 118
E. 133
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Under what conditions might a firm use multiple forecasting methods?The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?
- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?
- The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel Agency. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b?The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a particular company. The company suspects that except for random noise, its sales are growing by a constant percentage each month and will continue to do so for at least the near future. a. Explain briefly whether the plot of the series visually supports the companys suspicion. b. By what percentage are sales increasing each month? c. What is the MAPE for the forecast model in part b? In words, what does it measure? Considering its magnitude, does the model seem to be doing a good job? d. In words, how does the model make forecasts for future months? Specifically, given the forecast value for the last month in the data set, what simple arithmetic could you use to obtain forecasts for the next few months?The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?
- Do the sales prices of houses in a given community vary systematically with their sizes (as measured in square feet)? Answer this question by estimating a simple regression equation where the sales price of the house is the dependent variable, and the size of the house is the explanatory variable. Use the sample data given in P13_06.xlsx. Interpret your estimated equation, the associated R-square value, and the associated standard error of estimate.The file P13_25.xlsx contains the quarterly numbers of applications for home mortgage loans at a branch office of Northern Central Bank. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b? Is it guaranteed to produce better forecasts for the future?Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS YEAR January 315 February 418 March 390 April 430 May 400 [ June 480 July 430 August 320 September 385 October 530 November 592 555 December 300 400 350 460 390 395 355 245 340 Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Do the problem using quarters, as opposed to forecasting separate months. (Round your answer to 2 decimal places.) Forecast for the fourth quarter